小树苗 Berachain

This is absolutely insane—assets in a cold wallet can still be stolen!

Coldcard Mk3 and early firmware had a fatal bug in its random number generator.

The entropy used for seed generation was only 72 bits, far short of the standard 128 bits, so hackers simply brute-forced it.

In just 15 minutes, 594 BTC were swept away; more than 500 single-sig wallets were wiped out in an instant, totaling 38 million+ in value

When managing large assets in Crypto, the most taboo thing is putting everything in one basket—always diversify, diversify, diversify!

📢 Validators & Vault Stakers, please note: complete RA update and migration by Aug 6

With the full rollout of PoL Next and BGT’s gradual exit, some rewards vaults are about to be adjusted:

🔹 Validators: Please update your reward allocation by Aug 6. If you do not update in time, the automatic reward allocation will be applied on your behalf.

🔹 Vault Stakers: Please promptly解除质押 (un-stake) and migrate to sWBERA to continue participating in the new yield system.

After vault changes, you can still perform actions to un-stake.

Crypto feels desolate!

Lately, 90% of the content published by crypto media and crypto KOLs has been about Korean stocks, US stocks, and A-shares.

Of the remaining half, one portion is busy fighting, and the other is lining up to flee.

Back when the market was bearish, everyone argued about who the Ethereum killer is / whether L2 has meaning / what the next cycle’s 100x coin will be.

Even though they fought, at least deep down they still had a belief—they were still debating a future.

In a situation like this, indifference is the most dangerous thing.

Hyperliquid’s needle insertion by Hailishi makes me think of a saying:

Making money depends on judgment; staying alive depends on risk control.

Many people review the market and always end up discussing where to buy and where to sell.

But actually, the most important thing is:

If the market suddenly throws you a needle, can you still stay at the table?

Being right on direction doesn’t mean the process won’t be wildly volatile.

Especially when leverage is involved.

A lot of positions die from these needle moves. Once the needle is inserted, the price and trend both return.

The only change is that your position is gone.

The interest-bearing stablecoin syzUSD, issued by @YuzuMoneyX, has been integrated into Bend's Clearstar Reactor HONEY vault as collateral asset.

- Users holding syzUSD can deposit it as collateral to borrow $HONEY

- syzUSD continues to accrue interest during the collateral period, with no interruption to asset efficiency

- @ClearstarLabs' HONEY Reactor vault has synchronized and allocated funds to the syzUSD market

Currently, Bend's Clearstar Reactor HONEY vault supports three yield-bearing stablecoin assets: sUSN, savUSD, and syzUSD.

While maintaining capital utilization efficiency, users gain more diverse on-chain yield strategies and asset allocation options.

👉 View details:
bend.berachain.com/lend

Great to see the Bera team at Money Frontier 2026 in Hong Kong!

The team is connecting with builders, investors, and ecosystem partners from around the world.

If you’re also in attendance, feel free to stop by our booth and say hi—let’s chat about the future of on-chain economies.

📍 Hong Kong · Money Frontier 2026

Bankrupt and shut-down list continues to grow!

On July 23, @BitMEX announced that it will close its operations starting at 04:00:00 UTC on September 23, 2026.

On July 24, @odosprotocol announced that its application will switch to read-only mode on July 27, and that all Odos services will be permanently shut down on July 30, 2026.

On July 25, @dango announced the termination of the project. On Wednesday, August 13, at 12:00 PM UTC, the Dango L1 blockchain will stop running.

On July 25, Poolin @officialpoolin, once the world’s largest Bitcoin mining pool, filed for bankruptcy.

On July 26, @BitMartExchange announced that on August 26, 2026 at 01:00 UTC, all trading services will stop. On January 31, 2027 at 15:59 UTC, platform operations will be officially terminated.

Look at these death lists—there are only two ways they die:

1⃣ Fake demand gets punctured. In a bull market, just build some infrastructure and a simple aggregator, and financing comes easily. Only in a bear market do people realize there is basically no commercial closed loop.

2⃣ Leverage backlash. Even seemingly stable leveraged strategies like what Coin/“Poolin” does—everything gets taken down in one wave. It was possible to ride this AI wave and sell at a good price, but unfortunately it died just before dawn.

In the second half of the bear market, if you can simply hold on to your principal and avoid stepping on traps, you’ve already outperformed 90% of people.

The first coin I traded when I got into this scene was Dogecoin!

Back then, I bought it on AEX, but I didn’t hold onto it—what a pity.

Even if I had held it, it wouldn’t have helped.

AEX has already shut down, and if your assets are stuck in there, you can’t withdraw them.

Last night, even overseas markets broke down. Tesla fell 14%. As for “so steady as an old dog” companies like Google—those that Buffett has bought—also dropped by nearly 8% in a single night. Buffett bought at over $350, and now he’s down more than 15%.

Today, Korea also hit a circuit breaker, and as for China’s A-share market, everyone should be able to feel the situation. Whether it’s holding old blue-chip stocks or smaller “young” tech stocks, everyone’s basically complaining. The core issue is that trading volume has fallen too much.

It’s now below 2 trillion—actually creating the lowest level in nearly three months.

However, more funds are waiting for next Monday’s Changxin IPO. Especially for short-term traders, they’re all waiting for Changxin’s response to decide.

You can draw a reference from this year’s April 7th: back then, it also created the lowest trading volume. Then, starting April 8th, volume picked up and prices rose—up until today when it set a new low.

Will next week see a repeat of the historical turning point?

These past couple of days have been pretty surreal: bankruptcies for some, theft for others:

1️⃣ @movement_xyz — MVMT Labs, which had once been valued as high as $3 billion — filed for bankruptcy protection and paused development.

2️⃣ B² Network @BSquaredNetwork was hit by a hacker attack; nearly $4 million was siphoned away. The project team even contacted the hacker on-chain, offering that if they made up just 10%, they could be forgiven.

3️⃣ Perp DEX @AFX_XYZ’s cross-chain bridge was drained of 24.15 million USDC. That huge sum has already been laundered into ETH.

All I can say is that this bear-market reshuffle is proving more brutal and more naked than in previous rounds.

When the market is good, all kinds of top-tier infrastructure projects and unicorns valued at tens of billions seem to be everywhere.

Now that the money’s run out, they straight-up throw up their hands and announce bankruptcy.

And then there are the frequent hacker attacks.

Longtime players all know this as if it were crystal clear: some thefts really are actual theft.

But not every stolen case is necessarily done by hackers.

When the market turns bad and there’s no more “juice,” some fly-by-night crews use hackers as a pretext to empty and launder the treasury—standard operating procedure for跑路 (running away).

The above is a broad sweep, not aimed at any specific project. Don’t read too much into it.

An Era Comes to an End: BitMEX, the pioneer of perpetual contracts, officially announces it is shutting down.🫡

It invented 100x perpetual contracts, ruled the early bull market, and even so, it ultimately couldn’t withstand this ruthless wave of existing-position games and brutal shakeouts.

Although trading volume is shrinking now, it still boasts a security record of having zero users’ assets stolen over 11 years.

And today’s dignified delisting announcement really outclasses the many makeshift crews currently running away at the slightest trouble.

For longtime BitMEX users who still have assets there, remember to withdraw them before September 23.

See history unfold every day in crypto!

Greenlane CEO @JasonHitchcock, in a recent interview, once again shared the reasons behind their continued accumulation of BERA.

At present, Greenlane holds 81 million BERA (about 16% of the total supply) and has deployed these BERA into Berachain DeFi to keep earning returns.

In Jason’s view, what they’re investing in is not just a token, but Berachain’s growth model.

After the PoL Next upgrade, Berachain can efficiently convert chain emissions into growth capital that supports on-chain projects.

As the protocol attracts users, generates revenue, and then continuously channels part of that value back into the network through ERA, it ultimately benefits BERA holders.

This is also the core logic behind Greenlane’s ongoing allocation to BERA:

Holding BERA essentially means holding a share of the future ecosystem growth of Berachain and the value that flows back.

As more and more high-quality projects grow on Berachain, this economic model that builds value accumulation driven by real business will also receive further validation.

A 24-year-old young man in South Korea used 5x leverage to trade stocks, turning his principal up to 15 times at most.

Then, during a downturn, he was liquidated in a forced sell-off, and within a month his profits and principal were all wiped out.

He said that at the moment of liquidation the pressure was so intense he couldn’t breathe, but afterward he still planned to borrow more money and increase his leverage.

Why would he gamble on a dead end he knew was certain death?

Because a house in Seoul costs the equivalent of 14 years’ wages.

The normal path of striving has been completely shut off, and for today’s young people, high leverage is seen as an opportunity to change their fate quickly.

But the more intensely people crave rapid riches, the more easily they become prey to the market’s backlash.

Leverage is like a drug: the more seductive the upward wealth effect is, the more brutal the speed of destruction when it turns is.

At the end of trading lies spot trading; using leverage only accelerates ruin. Surviving matters more than anything else.

You think averaging down will bring your cost back—actually, you can’t hold onto the downward trend or the people who want to leave.

BrownFi V3 launched a month ago—and delivered a set of results worth paying attention to!

On Berachain and other supported chains, BrownFi’s LPs across all pools have outperformed both the UniV2 benchmark and the HODL portfolio at the same time.

The effect is even more pronounced on Berachain ⏫

LPs don’t just capture trading fees and dynamic price-spread premiums—they also stack WBERA emission rewards.

Two main pools currently on Berachain:

BERA/HONEY Pool: WBERA APR 30.12%

WETH/USDC.e Pool: WBERA APR 17.78%

Key mechanism 💡

- Dual benchmark: use UniV2 as the safety net (lowest IL), and HODL as the stretch target

- 50:50 optimal allocation: continuously maintain this ratio to minimize directional risk to the greatest extent

- Low-IL design: impermanent loss is comparable to UniV2, but returns are significantly higher

Data won’t lie. Invite yourself to experience it on beras firsthand and verify the real outcomes:

👉 app.brownfi.io/pool

In the past 60 days, wallets holding 1,000 to 10,000 BTC increased their holdings by 66.7k BTC

Wallets holding 100 to 1,000 BTC sold off 77.8k BTC; this selling volume has been relatively aggressive since 2026.

This divergence in capital is quite interesting.

Addresses with 100–1,000 BTC are more like funds that trade based on market conditions, buying the dips and realizing profits;

Whales with 1,000+ BTC are more likely to keep accumulating chips over longer cycles.

One is selling, while the other is buying.

When, historically, capital of different sizes shows clear disagreement, the market is very likely to enter a phase of increased volatility.

After Berachain’s PoL Next goes live, there’s a signal worth paying attention to and an opportunity worth seizing on-chain.

The signal to watch: institutions are voting with real money

Greenlane CEO Jason Hitchcock has just issued an open letter stating clearly that Greenlane is still continuously accumulating and staking BERA.

In his letter, he particularly emphasized the value of ERA (Emission Reflux Protocol). If it launches as expected, the protocol’s emissions will become long-term growth capital that supports the development of quality projects—not just short-term incentive subsidies.

Project growth → creates revenue → revenue flows back into the network → BERA becomes more valuable. This flywheel is already turning.

Such firm conviction from institutions suggests they have confidence in this entire logic.

The opportunity to watch: a new option for earning interest on stablecoins

After PoL Next went live, the two HONEY vaults on Bend have very stable returns; as observed, the yield is consistently around 10%

Both pools are deposits of stablecoins: deposit-and-withdraw anytime, with no lockups. Compared with CEXs’ demand-deposit wealth-management products, this yield is still quite competitive.

If you have some idle U and don’t want to mess around during the bear market, these two vaults are worth checking out.

Link: https://bend.berachain.com/lend

Last week, Greenlane’s CEO wrote an investor letter about PoL Next. I was curious why a U.S. Nasdaq-listed company would go to the trouble of explaining this.

After reading it, I roughly understood: as of July 7, they held about 81.6 million BERA. While cutting costs and laying off staff, they continued to accumulate more—and also needed to explain the logic to shareholders. The fact that a Nasdaq-listed company is willing to publicly write a letter to explain the chain behind its holdings is worth a serious look.

Over the past six months, the Bear Chain has done three things:

1️⃣ In November, Bera Builds Businesses. The foundation gave up on “TVL equals success” and shifted to supporting applications with annual revenues in the tens of millions USD range (3–5 years). It changed the target: instead of just chasing TVL, it incubates, uses revenue sharing, and token support backed by equity structures.

2️⃣ On June 24, Fusaka was upgraded. Fulu and Osaka were introduced to execute the consensus changes, ending Bera-Geth compatibility. This is pure technical work. No price changes, but it lays the groundwork for what follows—so it changed the underlying layer.

3️⃣ From July 7–8, PoL Next. BGT was deprecated, the boost curve was removed, and it converged into a single yield asset, sWBERA. On July 7, the contract switch issued WBERA; on July 8, a hard fork stopped emissions. The migration is not automatic: if you have BGT or BGT LST, you need to manually swap via the hub (those who don’t can watch my video tutorial). Any remaining vault state will settle the next claim as WBERA. According to the official guidance, APR can be up to 3x. This changes the incentive layer.

First change the target, then change the underlying layer, and finally change the incentive layer. There’s a sequence to it. Next, we’ll see how ERA performs.

The selected team earmarks specific emission flows: within 3–12 months, for each BERA, it returns at least a fixed yield, and permanently shares a portion of income back to the network. The chain treats emissions as principal to be invested and requires a return. If this structure really works, it would be something very few in the industry have done—let’s wait and see.

#berachain

No problem

My niece just started high school, and I noticed she didn’t have a phone yet, so I bought her a phone that cost a little over 2,000.

When I handed her the phone, my sister-in-law was nearby and said, “Oh, I was planning to get her an iPhone.”

Then my niece said in a sarcastic tone, “It’s all your fault. If you hadn’t bought this cheap one, my mom would’ve gotten me an iPhone.”

She really made me angry. I just took the phone back and said, “You can ask your mom to buy it. There’s a 7-day no-reason return policy—I can return it.”

After that, my niece kept pushing her mom to buy it, but her mom wouldn’t, and she was trying to save face anyway.

She doesn’t want to spend money on her own child, yet I buy it for her and she’s still here making sarcastic comments.

And as for this niece, I won’t buy her anything in the future either. It’s thankless.